Joe Flacco, Ravens not close to agreeing to new contract

Contract talks between the Baltimore Ravens and quarterback Joe Flacco have continued and have been amicable, but the sides are not close to a deal and it's unlikely they bridge the gap quickly.

Drew Brees, who is poised to set the market, still isn't signed, and the Ravens are very much in a cap crunch. There isn't a sense of immediacy that a deal must get done before the season starts, and at this point it's not expected that will change, sources said Monday.

Both sides very much want to work out a long-term deal, but the timing has to be right. Flacco is participating in offseason work and has no plans to hold out, sources said. So playing out his final season under contract is the mostly likely outcome for 2012.

Flacco stands to make $6.76 million next season in base salary along with a $2.1 million roster bonus.

Follow Jason La Canfora on Twitter @JasonLaCanfora.

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